Key Highlights

  • SpaceX (NASDAQ:SPCX) finished at USD 123.62 on November 5, 2026, a fall of 9.05% or USD 12.30, extending a loss from the prior session.
  • The latest close sits about 29.9% under the October intraday peak of USD 176.42, a gap calculated from published prices and nearly 30% in size.
  • Published tallies put the combined two-day value erased across SpaceX and Tesla between roughly USD 420 billion and USD 456 billion, with estimates varying by source.
  • Texas governor-elect Gina Hinojosa has promised a halt to new Data Center approvals, but she takes office January 19, 2027 and no policy is enacted yet.

A Second Down Day Following the Midterm Vote

SpaceX (NASDAQ:SPCX) is a rocket, Starlink satellite internet and space infrastructure Business that began trading on Nasdaq in June 2026. Its shares slid 9.05% to USD 123.62 on November 5, 2026, which implies a prior close near USD 135.92 (calculated). Coverage linked the slump to worries that SpaceX and chief executive Elon Musk could meet harsher scrutiny once Democrats gain influence, following the November 3 vote. Tesla (NASDAQ:TSLA) dropped 10.77% to USD 343.69 in the same session, while the Nasdaq Composite lost 5.52%, the Dow declined 3.44% and the Philadelphia Semiconductor index shed over 12% amid a broad technology rout. Both Musk-linked stocks had also declined the previous day.

Texas Election Results Turn Attention to Data Centers and Starlink

Democrats captured the Texas governorship and the attorney general post on November 3, a result that shifted the political backdrop for local approvals. Governor-elect Gina Hinojosa has promised to halt approvals for new data centers until lawmakers pass protective measures, and published coverage links that to a planned SpaceX Facility near Brownsville. Attorney General-elect Nathan Johnson has signaled he would look into whether Starlink won rural broadband grants fairly. One analysis found no evidence yet that SpaceX projects have been hit directly, and a December 2026 review of the initial project batch is slated from Texas grid regulators. Tesla's robotaxi service, which launched in Austin on September 3, also operates in Texas, so local rules matter to the wider Musk group and to any future expansion plans.

An Unconfirmed Profit Figure and the Slow Policy Clock

One report cited third-quarter GAAP Net Income of USD 4.40 billion, but that number comes from a single published source and remains unconfirmed here. The shares sit far below their October peak, and a recent listing can swing hard because its trading history is short and sentiment has outsized influence. Policy risk is political and slow to settle: Hinojosa's term starts January 19, 2027, lawmakers would need months to act, and data center spending could shift if permits or power Supply tighten. A Market Value for the company could not be verified, so none is quoted here.

Where Things Stand

Investors are marking down SpaceX (NASDAQ:SPCX), which sits nearly 30% under its October high after a 9.05% drop, by pricing political and Regulatory Risk tied to Texas data centers and Starlink grants on a day the Nasdaq Composite fell 5.52%. Direct damage to operations appears thin so far, which suggests sentiment is driving much of the move. Watch the December grid review, the January 19, 2027 start of the new Texas governor's term, any state action on Starlink grants and the next Earnings report. This is not a forecast.